Granite Construction Incorporated (GVA)
Inventory turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 3,434,876 | 3,447,712 | 3,325,329 | 3,203,020 | 3,112,739 | 2,965,784 | 2,905,046 | 2,799,386 | 2,769,488 | 2,708,600 | 2,761,355 | 2,918,775 | 3,027,559 | 3,234,938 | 3,231,936 | 3,212,138 | 3,217,671 | 2,890,025 | 2,947,511 | 2,962,027 |
| Inventory | US$ in thousands | 108,175 | 107,973 | 119,060 | 116,957 | 103,898 | 92,131 | 92,151 | 97,893 | 86,809 | 81,296 | 78,634 | 74,356 | 61,965 | 77,412 | 88,424 | 86,611 | 82,362 | 102,111 | 105,023 | 98,765 |
| Inventory turnover | 31.75 | 31.93 | 27.93 | 27.39 | 29.96 | 32.19 | 31.52 | 28.60 | 31.90 | 33.32 | 35.12 | 39.25 | 48.86 | 41.79 | 36.55 | 37.09 | 39.07 | 28.30 | 28.07 | 29.99 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,434,876K ÷ $108,175K
= 31.75
Granite Construction Incorporated has maintained a relatively stable inventory turnover ratio over the observed period. The inventory turnover, which indicates the speed at which the company's inventory is sold and replaced, ranged from a low of 27.39 to a high of 48.86.
In the earlier part of the period, the inventory turnover demonstrated fluctuations but generally showed an upward trend from 2019 to 2021. However, from 2022 onwards, there was a slight decline in the ratio before stabilizing in the range of 27 to 32.
The company's inventory turnover reached its peak in December 2021 at 48.86, suggesting efficient management of inventory during that period. Overall, fluctuations in inventory turnover may indicate changes in sales patterns, production efficiency, or inventory management strategies within Granite Construction Incorporated.
Peer comparison
Dec 31, 2024
Dec 31, 2024